The relationship between personal and corporate income taxes rates is significant because _____
a. high-income taxpayers can choose between realizing income as personal or corporate
b. low-income taxpayers purchase the majority of goods produced by corporations
c. middle-income taxpayers equalize their income between corporate and personal income taxes
d. there is no relationship
a
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Which of the following is not considered to be a determinant of the price elasticity of demand for a particular good?
A) The number of available substitutes. B) The cost of the good relative to total income. C) The quantity of the good that is supplied to the market. D) The time period under consideration.
Which of the following arguments is often used by opponents of Federal Reserve independence?
A) Independence slows the policy decision process. B) Independence causes inflationary pressures to build because of excessive monetary growth. C) Independence leads to conflicts between monetary and fiscal policy. D) Independence causes a concentration of financial power.
The Romer model is distinct from the Solow model in that the former assumes that ________
A) technology is fixed B) an increase in price affects quantity demanded, rather than demand C) some labor is devoted to producing new technology D) output per worker is fixed
Which of the following is not included in either M1 or M2?
a. U.S. Treasury bills b. small time deposits c. demand deposits d. money market mutual funds